What is conversion path?
Conversion path is the journey a customer takes from discovering a product or service to making a purchase. It includes all the steps a customer takes from the initial awareness of a product or service to the final purchase. It includes the channels, content, and interactions that influence the customer’s decision-making process.
Why is conversion path important?
Conversion Path is important because it helps marketers understand how customers interact with their website and how they can optimize their website to increase conversions. It also helps marketers identify areas of improvement and opportunities for optimization. By understanding the customer journey, marketers can create more effective campaigns and better target their audience.
How can I use conversion path?
Here are a few concrete examples of how you can use a customer conversion path to make better decisions:
- Identify bottlenecks or points of friction: By analyzing your customer conversion path, you can identify any bottlenecks or points of friction that may be causing customers to drop off or not complete the desired action. For example, you may find that a long or complicated checkout process is causing customers to abandon their shopping carts. By identifying these issues, you can make changes to your conversion path to remove these barriers and improve your conversion rate.
- Test different approaches: By testing different approaches to your customer conversion path, you can see which ones are most effective at getting customers to complete the desired action. For example, you may find that offering a discount or free shipping can help to increase your conversion rate.
- Optimize your landing pages: Your landing pages play a key role in your customer conversion path, as they are often the first point of contact that a customer has with your business. By optimizing your landing pages for conversions, you can improve your chances of getting customers to take the next step in the conversion process.
- Personalize the experience: By using data about your customers, you can tailor the customer conversion path to the individual needs and preferences of each customer. For example, you can use data about a customer's purchase history to recommend products that are more likely to be of interest to them.
Brief history of conversion path
Tracking the customer conversion path has been an important part of marketing and customer experience management for many years. In the past, businesses used a variety of methods to track the steps that customers took before completing a desired action, including analyzing sales data, customer surveys, and focus groups.
With the rise of the internet and the increasing use of online marketing channels, tracking the customer conversion path has become more sophisticated. Tools such as web analytics and conversion tracking code have made it easier for businesses to track and analyze the actions of users on their websites and other online platforms.
Return on Investment (ROI)
Customer Acquisition Cost (CAC)
Cost per Lead (CPL)
Cost per Impression (CPM)